Tariff classification of vehicle gear components follows the specific gearing entry, displacing motor-vehicle parts classification and related liabili...
Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
The Tribunal upheld deletion of the section 14A disallowance, holding that interest-free surplus funds covered the investments and that administrative disallowance could not exceed the consistent 2% approach followed in earlier years. It also sustained treatment of professional fees as revenue expenditure, finding they supported existing business expansion without creating a capital asset or enduring advantage. The bad debt write-off was allowed because post-amendment section 36(1)(vii) requires only an actual write-off in the accounts. Payment for public relation services was held deductible on proof of commercial expediency and receipt of services. Deduction under section 80IA for the captive incinerator facility was sustained on market-value basis and consistency. Interest under section 234A was left for factual verification of timely filing.
The Tribunal upheld deletion of the section 14A disallowance, holding that interest-free surplus funds covered the investments and that administrative disallowance could not exceed the consistent 2% approach followed in earlier years. It also sustained treatment of professional fees as revenue expenditure, finding they supported existing business expansion without creating a capital asset or enduring advantage. The bad debt write-off was allowed because post-amendment section 36(1)(vii) requires only an actual write-off in the accounts. Payment for public relation services was held deductible on proof of commercial expediency and receipt of services. Deduction under section 80IA for the captive incinerator facility was sustained on market-value basis and consistency. Interest under section 234A was left for factual verification of timely filing.
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